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Mazagon Dock Shipbuilders Limited (MAZDOCK.NS)

INR2,369.40 +9.50 (+0.40%)
IN NSE Industrials Aerospace & Defense
Address Dockyard Road 400010
Mumbai, IN
CEO Ruchir Agrawal
IPO 2020-10-12
ISIN INE249Z01020

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Also trades on Bombay Stock Exchange · MAZDOCK.BO (INR) National Stock Exchange of India · MAZDOCK.NS (INR)
Description

Established in 1774 and based in Mumbai, India, Mazagon Dock Shipbuilders Limited (formerly Mazagon Dock Limited) is a prominent player in the maritime industry, offering comprehensive shipbuilding and repair services. The company's operations span both domestic and international markets, primarily segmented into its Shipbuilding and Submarine divisions. Its extensive product range encompasses a wide variety of naval vessels, including corvettes, frigates (such as the Nilgiri and Godavari classes), destroyers, missile boats, and patrol vessels. For commercial applications, it constructs diverse merchant ships like trailing suction hopper dredgers, general and multipurpose cargo vessels, offshore support vessels, specialized passenger-cum-cargo carriers, powerful tugboats, and BOP vessels. Beyond surface vessels, the company is also a key builder of submarines and other related marine engineering products.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR2,369.40 +9.50 (+0.40%)
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Volume Profile
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Liquidity & share structure
Average Volume
1M
Beta
0.57
Float Shares
73.40M
Free Float %
18.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-3.97% -7.06% -0.26% +2.03% -10.65% -1.06% -15.17% +557.22% +2,257.12% +2,765.67% +2,765.67%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
2,369.40
DCF (Unlevered) 992.07 -58.1%
DCF (Levered) 395.51 -83.3%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 50% Bullish
Rating 2026-05 Change
Strong Buy 1 0
Buy 3 +1
Hold 2 0
Sell 1 0
Strong Sell 1 0
Quality scores
Altman Z-Score
4.61
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Aerospace & Defense: +15.4%
    +13.8% Q1'26: +21.3% (vs Q1'25)
  • EPS growth Aerospace & Defense: +32.2%
    +7.0% Q1'26: +108.7% (vs Q1'25)
  • FCF margin FCF growth · Aerospace & Defense: +45.0%
    -25.7% Q1'26: +0.0% (vs Q1'25)
  • EBIT margin Aerospace & Defense: +9.2%
    +16.7% Q1'26: +13.5% (vs Q1'25)
  • ROIC Aerospace & Defense: +6.2%
    Q1'26: -63.0% (vs Q1'25)
  • Share dilution Aerospace & Defense: +0.0%
    +0.0% Q1'26: 0.0% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Aerospace & Defense: 0.16×
    0.20× Q1'26: 0.21× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (1.93) × ERP
WACC = 100% × Ke + 0% × Kd (16.0%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 992.08 Current price: 2,369.40
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
7 Rev. Ana.
7 EPS Ana.
Mar 2027
9 Rev. Ana.
9 EPS Ana.
Mar 2028
9 Rev. Ana.
9 EPS Ana.
Mar 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
57.33B
est: 57.47B (-0.2%)
78.27B
est: 75.23B (+4.0%)
94.67B
est: 96.51B (-1.9%)
114.32B
est: 124.47B (-8.2%)
129.40B
125.68B – 132.22B
+4.0% YoY
145.02B
136.62B – 154.84B
+12.1% YoY
155.49B
135.93B – 180.30B
+7.2% YoY
176.05B
176.05B – 176.05B
+13.2% YoY
EBITDA
4.52B
est: 11.25B (-59.8%)
8.53B
est: 14.73B (-42.1%)
14.56B
est: 30.26B (-51.9%)
26.77B
est: 39.03B (-31.4%)
40.58B
39.41B – 41.46B
+4.0% YoY
45.48B
42.84B – 48.56B
+12.1% YoY
48.76B
42.63B – 56.54B
+7.2% YoY
55.21B
55.21B – 55.21B
+13.2% YoY
EBIT
3.78B
est: 10.60B (-64.4%)
7.77B
est: 13.88B (-44.0%)
13.73B
est: 29.93B (-54.1%)
25.61B
est: 38.60B (-33.6%)
40.13B
38.97B – 41.00B
+4.0% YoY
44.97B
42.37B – 48.02B
+12.1% YoY
48.22B
42.15B – 55.91B
+7.2% YoY
54.59B
54.59B – 54.59B
+13.2% YoY
Net Income
6.11B
est: 7.18B (-14.9%)
11.19B
est: 9.91B (+12.9%)
19.37B
est: 47.05B (-58.8%)
24.14B
est: 28.40B (-15.0%)
25.83B
19.59B – 29.82B
-9.0% YoY
29.60B
27.54B – 34.08B
+14.6% YoY
32.93B
27.88B – 37.03B
+11.3% YoY
33.90B
29.78B – 39.00B
+2.9% YoY
SGA
748.90M
est: 3.83B (-80.4%)
212.20M
est: 5.01B (-95.8%)
813.20M
est: 2.09B (-61.0%)
389.90M
est: 2.69B (-85.5%)
2.80B
2.72B – 2.86B
+4.0% YoY
3.14B
2.95B – 3.35B
+12.1% YoY
3.36B
2.94B – 3.90B
+7.2% YoY
3.81B
3.81B – 3.81B
+13.2% YoY
EPS
15.15
est: 17.80 (-14.9%)
27.74
est: 24.25 (+14.4%)
48.02
est: 114.96 (-58.2%)
59.84
est: 69.41 (-13.8%)
64.18
48.55 – 73.93
-7.5% YoY
73.75
68.28 – 84.47
+14.9% YoY
79.79
69.12 – 91.80
+8.2% YoY
84.03
73.82 – 96.68
+5.3% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-11 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-08 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-07 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-06 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-05 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-04 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-30 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-29 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-28 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-27 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-24 C 2/5 5/5 1/5 1/5 1/5 2/5 1/5
2026-04-23 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-22 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-21 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-20 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-17 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5
2026-04-16 C 2/5 4/5 1/5 1/5 1/5 2/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
3.39B
OE per share TTM
8.42
Owner's Yield
0.33%
Maintenance CapEx ratio
8.88%
Maint CapEx / Avg PPE
15.0%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 6 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Vanguard Emerging Markets Ex-China ETF VEXC 0.02% 57.7K 0.07%
2 Schwab Emerging Markets Equity ETF SCHE 0.02% 2.28M 0.06%
3 Vanguard FTSE Emerging Markets ETF VWO 0.02% 26.00M 0.06%
4 Vanguard FTSE All-World ex-US ETF VEU 0.00% 4.53M 0.04%
5 Vanguard Total International Stock ETF VXUS 0.00% 28.23M 0.05%
6 Vanguard Total World Stock ETF VT 0.00% 1.59M 0.06%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
7.71M
Shares Outstanding
403.38M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Commander Vasudev Ranganath Puranik Director-Corporate Planning & Personne and Director 9M
Biju George Director of Shipbuilding & Director 8M male
Captain Jagmohan Chairman & MD 6M
Lalatendu Acharya Company Secretary & Compliance Officer 4M male
Ruchir Agrawal Chief Financial Officer, Director of Finance & Director 348.4K male
Shailesh Bhalachandra Jamgaonkar Director - Submarine & Heavy Engineering and Director 105.3K male
Rajiv Ranjan Kumar Executive Director of Production, MRLC, Commercial & Offshore-EY male
Arun Kumar Chand Executive Director of Human Resources male
Sakshi Satkar Public Relations Officer female
Santosh Sonone Additional GM & HOD of Admin male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits